Is There A Colorado Credit For Solar Panels

Colorado solar power overview.

Is there a colorado credit for solar panels.

Colorado ranked 11th in the nation for installed solar capacity with 925 8 mw of solar energy installed as of 2016. It s 2020 and the state of home solar in colorado is strong. The federal solar tax credit also known as the investment tax credit itc allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes. Solar renewable energy credits or srecs are another way that colorado helps homeowners save on solar.

The residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar panels or roofing an average sized residential solar. Luckily colorado has a net metering policy that credits you for the extra electricity your system produces and allows you to use those credits when your system doesn t generate enough power. The solar energy sector in colorado has created new opportunities in electricity generation research and development and manufacturing. Way to go lawmakers.

We ll hold the srecs and pass the savings onto you in the form of a lower kwh rate that pays for. Net metering in colorado. 100 of electricity now needs to come from carbon free renewable sources by 2050. When you put solar panels on your roof you want to make sure you get credit for all of the power your system generates.

Lots of sunlight state rebates property and sales tax exemptions plus the federal government 30 tax credit for the whole installed cost of your system are compelling reasons to go solar in colorado. Colorado has long been a leading state in the national initiative for solar power and renewable energy. That s why sunrun is here to make your life easier with our solar lease brightsave. The state has a commitment to get 100 of electricity from renewable sources by 2050 and you can be a part of that.

The itc applies to both residential and commercial systems and there is no cap on its value. 3 however srecs are only available when you purchase your system and that can get complicated fast.